by Guy Lerner, The Technical Take
I think his person has it right when he writes: “You Won’t BELIEVE How Bearish Investors Are On Treasuries”.
Barron’s conducted a poll of portfolio managers asking them about their outlook on the markets and economy. As we can see from the table below, only 2% are bullish on Treasuries and 81% are bearish.
Table 1. Barron’s Poll of Portfolio Managers
The author sums this tidbit of information very nicely when he asks: “can you imagine any other asset that was in the midst of a 30-year bull market, that had just 2% of the investing population saying they were bullish? Frankly, it’s unfathomable. People have long said Treasuries were in a bubble, but it’s hard to believe any bubble has burst with just 2% being long.”
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